Stephens Upgrades TriCo Bancshares (NASDAQ:TCBK) to “Overweight”

TriCo Bancshares (NASDAQ:TCBK) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Thursday, MarketBeat Ratings reports.

Several other research analysts have also weighed in on TCBK. Weiss Ratings restated a “buy (b)” rating on shares of TriCo Bancshares in a report on Wednesday, July 8th. Zacks Research lowered shares of TriCo Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. DA Davidson lowered their price objective on shares of TriCo Bancshares from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Piper Sandler raised their price objective on TriCo Bancshares from $61.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Raymond James Financial lowered TriCo Bancshares from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, TriCo Bancshares currently has a consensus rating of “Hold” and a consensus target price of $56.60.

TriCo Bancshares Trading Down 1.4%

NASDAQ:TCBK opened at $57.78 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. TriCo Bancshares has a 1-year low of $40.44 and a 1-year high of $61.71. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.86 and a beta of 0.60. The business’s 50-day moving average price is $54.64 and its two-hundred day moving average price is $51.26.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $111.88 million during the quarter, compared to analyst estimates of $110.99 million. TriCo Bancshares had a return on equity of 10.27% and a net margin of 24.67%. On average, equities analysts expect that TriCo Bancshares will post 4.28 earnings per share for the current year.

Institutional Trading of TriCo Bancshares

A number of institutional investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in TriCo Bancshares by 337.5% during the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 459 shares during the last quarter. Danske Bank A S acquired a new position in TriCo Bancshares during the fourth quarter valued at approximately $28,000. Farther Finance Advisors LLC grew its stake in TriCo Bancshares by 40.3% in the fourth quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 211 shares in the last quarter. Abound Financial LLC acquired a new position in shares of TriCo Bancshares during the 4th quarter worth approximately $43,000. Finally, Parallel Advisors LLC raised its stake in shares of TriCo Bancshares by 88.5% during the 1st quarter. Parallel Advisors LLC now owns 1,440 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 676 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.